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Netflix and AMC+ secure shared Walking Dead streaming rights for 2027
Developed over time first seen 4 months ago
AMC Global Media and Netflix have agreed a five-year, $500 million co-exclusive licensing deal that will make the entire ‘The Walking Dead’ franchise available across Netflix and AMC+ from 2027. It strengthens Netflix’s long-running association with the series while giving AMC+ its first opportunity to stream the original programme, creating broader access for fans internationally.
The agreement covers 371 episodes, including the original series and six spin-offs such as ‘Fear the Walking Dead’, ‘Daryl Dixon’, ‘Dead City’ and ‘The Ones Who Live’. Release dates will vary by programme and territory as existing licences expire, but Netflix will expand availability in markets including the UK, Italy, Australia and New Zealand, while AMC+ is expected to add the main series early in 2027.
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In short
- Netflix and AMC+ will share ‘The Walking Dead’ streaming rights from 2027.
- The five-year agreement is worth $500 million.
- It covers all 371 episodes across seven franchise series.
How this story developed
- 4 months ago The deal was further described as extending Netflix’s availability in the UK, Italy, Australia and New Zealand while giving AMC+ the original series for the first time, expected early next year.
- 4 months ago AMC Global Media announced a five-year, $500 million co-exclusive agreement with Netflix to stream all 371 episodes of The Walking Dead and its six spin-offs on Netflix and AMC+ from 2027, with releases varying by territory as existing rights expire.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
This deal represents prudent business strategy with broad benefits. AMC secures substantial licensing revenue whilst maintaining some exclusivity through AMC+ early access to new content and the main series. Netflix strengthens its international offerings in key markets. Consumers gain access across multiple platforms and geographies, reducing subscription barriers, and both parties pursue rational commercial interests that expand the franchise's reach.
The case against
Whilst financially attractive, this arrangement signals AMC's retreat from competing with Netflix through content exclusivity. By licensing its flagship franchise to the dominant streaming market leader, AMC essentially concedes it cannot build platform value independently and must rely on licensing revenue rather than subscriber acquisition. For consumers, this accelerates subscription fragmentation—viewers seeking complete access must maintain multiple paid services—and despite short-term gains, it raises questions about AMC+'s long-term viability as an independent competitor.
Explained simply
The Walking Dead is a long-running television franchise about survivors living in a world overrun by zombies. It began with a series on the US cable channel AMC in 2010 and later expanded into several spin-offs following different characters and communities.
AMC Global Media is the company behind the franchise, while Netflix and AMC+ are subscription streaming services. Netflix operates in many countries, including the UK, whereas AMC+ is AMC’s own streaming service and has a more limited international presence.
Streaming rights determine which service can show a programme in each country and for how long. Because television rights are often sold separately by territory, viewers may find different parts of the franchise on different services until earlier agreements expire.
Coverage · 3 sources
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Originally published by Variety as “‘The Walking Dead’ Franchise to Stream on Both Netflix and AMC+ Beginning in 2027 Under New $500 Million Deal”.